The cake store is having a $15\%$ off sale on all of its cakes. If the cake you want regularly costs $\$16$, how much would you save with the discount?
Solution: In order to find the amount saved with the discount, multiply the discount by the original price. $15\%$ $\times$ $$16$ Percent means "out of one hundred," so $15\%$ is equivalent to $\frac{15}{100}$ which is also equal to $15 \div 100$ $15 \div 100 = 0.15$ Multiply the discount you just converted into a decimal by the original price to find the amount of money saved. $0.15$ $\times$ $$16$ = $$2.40$ You would save $$2.40$ because of the discount.